Forza Italia has officially presented its 11 proposed amendments to the draft law on the tax on bank windfall profits, which is currently being discussed in the Senate’s Industry and Environment Committees. The proposals range from excluding “smaller and less operationally complex” banks to strengthening the concept of a one-time tax (“applies only to the year 2023”). There is also a request to exclude government bonds from the calculation of windfall profits, and an increase in the percentage of assets that constitutes the maximum threshold for the tax. Deductibility is also included in the proposals.
According to an amendment by Forza Italia to the draft law, government bonds will be excluded from the calculation of windfall profits for banks. The proposal aims to protect savers and states that the amount subject to the tax should be “calculated net of profits and losses recorded in the income statement of the relevant years, regardless of their connection to the purchase, holding, and sale of government bonds, including interest, capital gains, and capital losses.”
Forza Italia is also calling for a six-month extension, until June 2024, of the 110% Superbonus for condominiums if at least 30% of the renovation works have been carried out by December of this year. The amendment to the draft law, currently under examination in the Senate’s Environment and Industry Committees, states that “the tax deduction will continue to apply to expenses incurred until June 30, 2024, at the percentage applicable as of December 31, 2023, provided that, by the same date of December 31, 2023, at least 30% of the overall intervention has been completed.”
Approximately 550 amendments have been submitted to the Industry and Environment Committees of the Senate regarding the draft law, which includes the tax on bank windfall profits. It has been reported that there are no proposed amendments from Fratelli d’Italia regarding Article 26, which introduces the extraordinary tax.
The Democratic Party (PD) has criticized the majority’s handling of the Superbonus issue, accusing them of playing multiple roles in a comedy without realizing the problems caused to thousands of businesses and hundreds of thousands of Italians. The amendment presented by Forza Italia to the draft law, which proposes a six-month extension if at least 30% of the renovation works have been carried out by December, is seen as an attempt to cover up their mistakes. The PD urges the majority to clarify their position on the Superbonus and suggests that a discussion in Parliament would be more appropriate to address the emergency. It appears that the government’s honeymoon period is coming to an end.
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